Sector Round Up - 24/05/2016

The Informer
Posted on: 24/05/2016

Centrica buys ENER-G in £145m deal

British Gas-owner Centrica has bought combined heat-and-power (CHP) operator ENER-G Cogen International for £145 million.ENER-G has 1,400 units producing 500MW of power, mostly in the UK but also in Hungary, Italy, the Netherlands, Romania and the United States.

Iain Conn, Chief Executive of Centrica, said: “We are building an international distributed energy and power business, as demand for CHP products and other distributed energy technologies grow.”

Nationwide, the world’s largest building society, has signed a 15-year power purchase agreement (PPA) to buy the electricity generated by German firm BayWa’s Vine Farm solar park near Cambridge.

The Renewable Obligation Certificates (ROCs) issued alongside the power generated will be sold to SSE.

Jenny Groves, Nationwide’s Divisional Director for Branch & Workplace Transformation, said: “I’m delighted with the agreement we have in place with BayWa.

“By increasing the amount of renewable electricity we’re using, we’re able to continue to ensure we’re doing our bit to manage the environmental impact of our activities and run the society in a responsible way.”

Twenty-six will be installed at the Kype Muir wind farm and 15 at the Middle Muir wind farm, both in South Lanarkshire, with the remaining six being sent to the Moor House wind farm near Darlington.

Richard Dunkley, Executive Director at Banks Renewables, said: “Modern, efficient onshore wind farms such as Middle Muir, Kype Muir and Moor House are acknowledged as providing the lowest cost form of carbon-free renewable energy generation for the UK, and we firmly believe they have a central role to play in the UK’s future energy mix, as well as in generating more of the energy that we all use via renewable means.”